How Good Is Long Term Care Insurance?
61667 POINTSview profileSteve SavantSyndicated Financial Columnist, Host of the weekly talk show Steve Savant's Money, the Name of the Game, Scottsdale ArizonaThe #1 risk in retirement is human longevity. The longer we live, the increased risk of running out of money, especially as we grow older with assisted living care and/or nursing home confinement. Long term care insurance can mitigate those eventualities by paying premiums to protect the economic erosion of elder care.Answered on August 11, 2013flag this answer
5877 POINTSview profileStan Cox IIInsurance Adviser - Broker, SC Insurance Services, Oahu, HawaiiHow "good" long term care insurance is depends on a few things. Obviously if you never need to use it, it wasn't any good for the purpose it was purchased. If you do need to use it at some point then it's golden! A big factor is how much insurance you buy and what will the cost of care be when it's actually needed. If you buy LTC as a rider on a life policy the money paid into it may be added to the face benefit value if the LTC is not used. In that case you can't loose.Answered on September 24, 2015flag this answer
Did you find these answers helpful?
Yes
No
Go!
Add Your Answer To This Question
You must be logged in to add your answer.
.JPG){kind=avatar}
